Electric Bicycles - Portugal

Portugal

In Portugal, the revenue in the Electric Bicycles market is forecasted to reach €157.40m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 1.81%, leading to a projected market volume of €172.20m by 2029.
The unit sales in the Electric Bicycles market are expected to hit 103.50k bicycles in 2029.
The volume-weighted average price of the Electric Bicycles market in 2024 is projected to be €1.58k.
When considering in Portugal, it is evident that the most revenue will be generated China (€10,720m in 2024) from an international standpoint.
In Portugal, the Electric Bicycles market is experiencing a surge in demand driven by eco-conscious consumers seeking sustainable transportation options.

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Analyst Opinion

The Electric Bicycles market in Portugal has been experiencing minimal growth, influenced by factors such as slow adoption of electric technology, low consumer awareness, and limited availability of online services. Despite this, the overall Bicycles market in Portugal is still seeing steady growth.

Customer preferences: As more individuals in Portugal prioritize sustainability and eco-conscious living, the demand for electric bicycles has increased significantly. Additionally, the rise of urbanization and traffic congestion has also contributed to the popularity of electric bicycles as a convenient and environmentally-friendly mode of transportation. Furthermore, the younger generation's growing interest in outdoor activities and fitness has also led to a rise in the adoption of electric bicycles for leisure and recreational purposes.

Trends in the market: In Portugal, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand due to the increasing focus on sustainable transportation options. This trend is expected to continue with the government's initiatives to promote electric mobility and reduce carbon emissions. Industry stakeholders are also witnessing a rise in the adoption of e-bikes for recreational and commuting purposes. This trend has significant implications for manufacturers, retailers, and service providers, who are investing in innovation and expanding their product portfolios to cater to this growing market. Additionally, the rising popularity of electric bicycles is expected to drive competition and lead to further advancements in the technology, making it more accessible and affordable for consumers.

Local special circumstances: In Portugal, the Electric Bicycles Market within the Bicycles Market is influenced by the country's hilly terrain and high petrol prices, making electric bicycles a popular choice for commuters. The government's initiatives to promote sustainable transportation also contribute to the market's growth. Additionally, the country's strong cycling culture and favorable weather conditions make it an ideal market for electric bicycles. These unique factors have led to the development of a robust market for electric bicycles in Portugal.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Portugal is strongly influenced by macroeconomic factors such as the country's economic growth, government policies, and consumer spending habits. Portugal has experienced steady economic growth in recent years, resulting in increased disposable income and a growing middle class. This has led to a higher demand for convenient and eco-friendly transportation options, such as electric bicycles. Additionally, the government has implemented policies and initiatives to promote sustainable transportation, which has further boosted the market for electric bicycles. Furthermore, Portugal's membership in the European Union has provided access to funding and resources for research and development in the electric bicycle industry. These macroeconomic factors are expected to continue driving the growth of the Electric Bicycles Market in the country.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of electric bicycles and the respective average prices for bicycles.

Modeling approach:

Market sizes are determined through a Bottom-Up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use publications of industry associations, expert blogs, and data provided by governments and scientific institutions. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, and consumer spending per capita (based on current prices). This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the ARIMA time series forecast and forecasts based on previous growth rates are well suited for forecasting the future demand for bicycles due to the brick and mortar nature of this market. The main drivers are GDP, consumer spending per capita, and population.

Additional notes:

The data is modeled using current exchange rates. The market is updated once a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).